Updates

Begbies Traynor - Earnings enhancing acquisition

March 2005

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The shares surged on news of Traynor’s first acquisition as a quoted company, at one time going as high as 88p. It is buying Chingford-based A Segal & Co for £0.45m in cash plus a deferred earnout payment of up to £0.55m over the next three years. A Segal is an insolvency practice specialising exclusively in insolvency work and its new case work mostly derives from local solicitors and accountants. For the year ended 30 April, Segal's fee income was £850,000. The deal is expected to be earnings enhancing from day one. Broker, Teather & Greenwood, has maintained its forecast for the current year to 30 April but has lifted its pretax estimate for next year by £0.17m to £4.58m, for ep ...

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Financial Objects

Goals Soccer Centres - Unique on the London Market

Begbies Traynor - Fewer but larger acquisitions planned (August 2006)

Begbies Traynor - Moves into personal insolvency (IVA) market (February 2006)

Begbies Traynor - Gain since January: 98% (September 2005)

Begbies Traynor (June 2005)

Begbies Traynor - Insolvency practitioner seeing strong like-for-like growth (January 2005)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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